Mystery Downtown Development Going Affordable
The New York Post ran a story yesterday mentioning two luxury condo buildings in talks with the city to unload their unsold units as affordable housing. One building is in Harlem and the other in Downtown Brooklyn, according to the article, but officials cannot reveal where the properties are while negotiations are still occurring. Any…
The New York Post ran a story yesterday mentioning two luxury condo buildings in talks with the city to unload their unsold units as affordable housing. One building is in Harlem and the other in Downtown Brooklyn, according to the article, but officials cannot reveal where the properties are while negotiations are still occurring. Any guesses, readers? The article says that the city is in negotiations with “banks that have foreclosed on the properties,” and that the Brooklyn development is in Downtown. The leading guesses in the Forum are Forte and be@schermerhorn (above). What do you think?
City Dealing to Make Luxe Condos Cheaper [NY Post]
I knew of it bewfore when I lived on East 54th St…before I became an Asshat and moved to the ghetto. Their pizza is spectacular. I also love the lasagne.
Scary indeed, BO. I’m off to see TOK.
***Bid half off peak comps***
DIBS
Told you Fresco’s is AMAZINGGGGGG
“Brownstones/rowhouses are going to OK though. And by ‘OK’ I mean prices won’t go down very much more”
I agree, lechacal, that condos will fare worse but brownstones, inspite of their mystique, just like any other multifamily dwelling, still have to go through the mathematical grinder of affordability (lending standards, employment, interest rates, etc.). Going forward, I don’t see how they will be OK. I still see half off, everywhere. Obviously you don’t think we’re already in a depression that will rival the 30’s (too many parallels but yet still an unpopular opinion like the recession call last year). You will change your tune though. In due time.
***Bid half off peak comps***
my previous comment was really dumb :-/
*rob*
BHO the scary thing is 11217 is serious and no matter how hard people try to explain it to him he keeps burying himself deeper and deeper……
quote:
Miley Cyrus, is that you lurking on brownstoner??
Miley has more talent in her little finger than you have in your whole body. and she doesnt have to live in a single room im sketchy park slope!
*rob*
G10…I’m eating a Fresco on the Go meatball sandwich. MMMmmmmm
> Toren is doing ok given the situation
True that. Nice looking building too. Beats the pants off of Forte in the looks department.